The bottom end of the market was moving rapidly, while sales above $500,000 were very slow, Mr Morison said.
"That's why the median price is still relatively low - because that's the market that's moving."
Nationwide, the number of residential property sales in April reached its highest level in six years, with sales up 25 per cent compared to April 2012.
REINZ data showed the national median price eased 2.4 per cent to $390,500, after reaching a record high of $400,000 in March.
However, compared to April 2012, the median price jumped $25,500 (7 per cent) year-on-year.
Together, Auckland and Canterbury accounted for 92 per cent of the price increase over the past 12 months.
REINZ chief executive Helen O'Sullivan said April was notable for a surge in prices and sales of mid-level homes in many parts of the country.
"Several regions appear to be benefiting from the tail-wind generated by the strength of house prices in Auckland and Christchurch."
Overall price levels in Auckland and Canterbury continued to have a major impact on the national picture, with the Auckland region recording the second largest jump in median price - rising 13.3 per cent to $555,000 year-on-year - but easing slightly (1.2 per cent) from the previous month.
Canterbury/Westland median prices jumped 10 per cent year-on-year to $353,000.
As house prices continue to soar, the Reserve Bank has warned it will force home buyers to come up with minimum mortgage deposits in a bid to cool the market - sparking concerns that first-time buyers could be locked out of the property market.
Meanwhile, auctions were increasingly becoming the favourite way to sell with 1368 dwellings nationwide selling under the hammer in April - nearly 20 per cent of total sales.
REINZ data also showed 7104 properties were sold across the country last month, an increase of 1428 sales (25.2 per cent) on last year's figure. APNZ
SOLD
$246,000 - median Wairarapa sale price in April, down from $260,000 in March, but up from $235,000 in April 2012.
57 properties sold in Wairarapa in April, down from 71 in March, but up from 55 in April 2012.
$236,968 - average Masterton property value, down 0.5 per cent year-on-year and down 18.1 per cent on 2007 market peak.
$262,802 - average Carterton property value, up 9.8 per cent year-on-year, but down 4.8 per cent on 2007 market peak.
$285,467 - average South Wairarapa property value, down 0.9 per cent year-on-year and down 16.7 per cent on 2007 market peak.Source: REINZ, QV
